WeChat MAU grew by 23% to 938M; QQ, QZone MAU down in Q1 2017

Tencent reported the first quarter total revenues of 49,552 million yuan (USD7,182 million) in 2017, an increase of 55% over Q1 2016. WeChat MAU further grew to 938 million while QQ and Qzone MAU saw a decrease in Q1 2017.

Tencent’s Finance Performance in Q1 2017

Online games revenues grew by 34% YoY to 22,811 million yuan for Q1 2017

Its profit for the period was 14,548 million yuan (USD2,109 million), an increase of 57% YoY. Net margin was 29%, the same as Q1 2016. Basic earnings per share were RMB1.540. Diluted earnings per share were 1.522 yuan.

Tencent’s entertainment services benefited from the Chinese New Year holiday, and several of their products achieved notable growth during Q1 2017. These include Tencent’s video platform which featured popular original content, as well as newer products such as the karaoke app WeSing, photo editing app Pitu, and mobile games Honour of Kings.

Tencent’s Business Review in Q1 2017

Monthly active user accounts of QQ was 861 million in Q1 2017, a decrease of 2% YoY